Netflix And Apple In Early Talks To Buy James Bond And Rocky Movies--Report
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While Netflix has dominated streaming for the past few years, the launch of Disney+ and Apple TV Plus last year signalled the start of a new era of competition. Most of the major studios are getting in on the streaming game, with WarnerMedia's HBO Max and NBCUniversal's Peacock set to launch this year. However, one studio that hasn't announced any plans for a streaming platform is MGM. It's now been reported that the company is in early acquisition talks, a deal that would involve selling off its impressive movie and TV catalogue.
As reported by CNBC, MGM has held "preliminary talks" with a number of companies to gauge interest in an acquisition--and these companies include Netflix and Apple. MGM is home to several major movie franchises--most notably the James Bond series, as well as Rocky, Mad Max, and Robocop. It has also produced TV shows such as The Handmaid's Tale and the various Stargate series.
MGM is owned by a group of hedge funds who saved the company from bankruptcy in 2010. As CNBC points out, the decision to sit on its catalogue instead of selling it right away has proved to be an extremely good one, given the current demand for high-profile content among the new streaming platforms. In addition, the fact that Disney and Warner spent huge sums on their own acquisitions last year could mean that Netflix or Apple are potentially in strong positions to make bids for the MGM catalogue. A purchase of MGM would be latest in big media consolidation deals, which also include Disney/Fox and Viacom/CBS.
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HBO Max launches in May this year and will feature the entire HBO library, the Warner library, and a variety of original content. Peacock, meanwhile, launches in April. It is set to showcase catalogue content such as The Office, Parks & Recreation, and Saturday Night Live, as well new shows that include reboots of Save By the Bell and Battlestar Galactica.
Disclosure: ViacomCBS is GameSpot's parent company.
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